Iran ceasefire deal prospects brightened on Monday as President Donald Trump declared that an agreement with Tehran appeared to be taking shape, while Iranian officials said their proposal to reopen the Strait of Hormuz could be put into effect within just two days if Washington accepts their terms. The twin signals mark the most hopeful moment in months for a war that has rattled energy markets and kept the Gulf on edge since February.

Trump Strikes an Upbeat Tone

Speaking at the Lincoln Memorial Reflecting Pool in Washington, Trump told reporters the situation looked to be coming together well. He linked a sharp fall in oil prices directly to news of the diplomatic progress, suggesting markets had reacted to word that the conflict might soon end.

Earlier, on Truth Social, the president had written that Iran was eager to reach a settlement as quickly as possible and that a deal could indeed happen. He also asserted that oil had dropped by close to 10 dollars per barrel on expectations of peace.

Vance: Progress, But No Deadline

Vice President JD Vance echoed the optimism in remarks at Joint Base Andrews. He said the administration had held several productive conversations with Iranian counterparts and that both he and Trump felt encouraged about the chances of a negotiated outcome. Washington would keep pushing, he added, and would see whether further headway could be made.

Pressed on whether Iran had been given a cut-off date to agree before American strikes resumed, Vance was direct: no deadlines had been set. He stressed that the president still had military and non-military tools at his disposal, and that any accord would need to include a firm and verifiable pledge from Tehran not to reconstitute its nuclear programme, which Vance maintained the United States had already destroyed.

Iran Compresses Its Timeline

In Tehran, officials said the substance of their seven-step plan had not changed, but its implementation could now be compressed from one week to two days. The proposal calls for a rapid reopening of the Strait of Hormuz alongside a resumption of talks on Iran’s nuclear activities.

Foreign Ministry spokesman Esmaeil Baghaei said the offer had been condensed and was ready to be executed within 48 hours. He explained that if Iran’s conditions were satisfied, security in the strait could be restored and negotiations could begin in short order, but that everything hinged on how the American side chose to proceed.

Supreme Leader Grants Authority

State news agency IRNA reported that Supreme Leader Mojtaba Khamenei had given the government expanded authority to speed up discussions with Washington aimed at ending the war. The move suggests a deliberate decision at the highest level to pursue a diplomatic exit, even as Iran continues to prepare for the possibility of renewed fighting.

Araghchi: Open Hormuz or Nothing Changes

Foreign Minister Abbas Araghchi, speaking to IRNA from Ashgabat in Turkmenistan, reiterated that Iran was ready for either path. If the United States accepted the conditions, he said, the strait would be opened and talks would resume. If not, the current standoff would persist and Iran would not yield.

His comments came as Qatar and Pakistan continued to facilitate indirect exchanges between the two sides.

What Iran Is Asking For

Tehran’s conditions have been consistent. They include an end to the American naval blockade of Iranian ports, the repeal of sanctions, a guarantee that strikes will cease, and a comprehensive regional ceasefire with particular emphasis on Lebanon.

Baghaei offered no sign that Iran had softened any of these demands, nor did he indicate that Washington had agreed to them. The shortened timeline appears to be an effort to demonstrate seriousness and to place the burden of decision squarely on the United States.

The Shadow of the Midterms

For all the positive language, Trump has repeatedly hinted that military action could resume once Tuesday’s midterm elections are behind him. In an interview with the Right Side Broadcasting Network on Sunday, he said the war would conclude very soon one way or another, with Iran either agreeing to a deal or the United States simply bringing matters to an end by force.

That dual message, optimism paired with threat, has characterised the administration’s approach throughout. It leaves open the question of whether the current diplomatic momentum reflects a genuine shift or a pause before escalation.

Reading the Signals

Several factors suggest the moment may be different from earlier false starts. The direct involvement of the vice president, the supreme leader’s explicit authorisation for faster talks, and the active role of multiple regional mediators all point to a more structured process than previous rounds.

At the same time, the core disagreements remain. Washington wants verifiable nuclear commitments; Tehran wants sanctions relief, an end to the blockade and security guarantees before it will discuss nuclear matters in depth. Bridging that sequencing gap will be the key test.

Markets Place Their Bet

Oil traders have already made their judgement, pushing prices down on the belief that peace is closer. Whether that confidence proves justified will depend on decisions taken in Washington and Tehran over the coming days, after the midterms have passed and the political calculus in the White House becomes clearer.

For now, both sides are talking, both are offering timelines, and both are keeping their weapons within reach.